Bit of help if your free....

trucker1985

Hi everyone, im not going to bore you all with my problems but im looking for some help, i have finally decided to stop hiding the fact that i suffer from manic depression (currently on medication and undergoing therapy).

Im looking for a template letter to send to my creditors to ask for there help, i currently have £14,350 worth of unsecured debts, 2 hp agreements (which i would like to keep if possible) stepchange have advised going bankrupt however i cant do this as a) the hp agreements and b) i have to work under a ltd company and because im also a carer my hours are limited. Im not asking for a miracle just a bit of help.

Kindest regards

Jamie

National_Debtline

Hi Jamie and welcome to MSE,


Initially I would suggest you just ask the credit debts to hold action on your accounts. It is not a long term solution, but should help to give you 30days of breathing space from them, whilst you weigh everything up. You should also make sure you don't bank with any of the organisations you owe money to, before asking them to hold action, to make sure your income is protected.


With regard to the more long term options, there a few things to consider. Firstly, if you are not the director of the Ltd Co, then it wouldn't be an issue for you to consider options like bankruptcy or a DRO, once the HP items have been paid for. Alternatively, you could simply ask the unsecured debts to write off what is owed. This is completely at their discretion, but if you have limited money available, health issues, and no assets it may be worth asking for.


If none of this is suitable then it would be a case of negotiating what you can manage per month, even if that is only £1 per month, per debt. Good luck,


Laura
@natdebtline

trucker1985

Hiya unfortunatley i am the director of the ltd company and its the only way i can work currently, our company will not use paye employees and the only other choice is umbrella company but i dont trust them.

Thankyou very much for your advice.

Jamie